MCX Silver March contract 121 rupees down on Friday to settle at 36833. Silver is taking support around 50 days SMA near 36449. Silver has settled well with a doji candlestick pattern near key support hints state of indecision. Today’s supports near at 36500-36400 any move below these levels then the next level are 35900-35800. If stable above 35600 remains bullish and recovery above 37200 would bring 37700-38200-39000 and more upside.
Mcx silver trading range for the day is expected among the key support at 36400 and resistance at 37200.